Jim Cramer Suggests "Buy More Costco Here"

Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks that Jim Cramer shared insight on. A caller asked if they should add to their position in the stock or just hold on to it, and Cramer replied:

“I want you to buy more Costco here. I was actually going back and forth on Costco, what’s the right level? It is under 50 times earnings right now. I feel very good about buying some Costco, almost actually picked some up for the Charitable Trust. But I’ll tell you the truth, it’s so far above my basis that I don’t want to tempt fate. I think you got a winner in Costco right here, right now. Remember, they can pass on the price of beef because they are about the membership, not about the price of beef.”

Costco Wholesale Corporation (NASDAQ:COST) operates a membership-based warehouse model. The company sells a range of brand-name and private-label products in bulk at reduced prices and targets consumers seeking cost savings through larger purchases.

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Disclosure: None. This article is originally published at Insider Monkey.